Prudential Financial Inc. reduced its stake in Archrock Inc. (NYSE:AROC) by 9.8% during the second quarter, Holdings Channel reports. The firm owned 620,010 shares of the company’s stock after selling 67,600 shares during the period. Prudential Financial Inc. owned approximately 0.91% of Archrock worth $5,840,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. HITE Hedge Asset Management LLC bought a new position in Archrock during the second quarter valued at approximately $12,561,000. Jacobs Levy Equity Management Inc. bought a new position in Archrock during the first quarter valued at approximately $4,616,000. Spark Investment Management LLC increased its position in Archrock by 318.1% in the first quarter. Spark Investment Management LLC now owns 719,600 shares of the company’s stock valued at $5,756,000 after buying an additional 547,503 shares during the period. JPMorgan Chase & Co. increased its position in Archrock by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,163,724 shares of the company’s stock valued at $9,310,000 after buying an additional 424,374 shares during the period. Finally, Credit Agricole S A bought a new position in Archrock during the first quarter valued at approximately $2,010,000. 88.18% of the stock is currently owned by hedge funds and other institutional investors.
Archrock Inc. (NYSE:AROC) opened at 13.07 on Wednesday. Archrock Inc. has a 52 week low of $3.41 and a 52 week high of $24.05. The stock’s market capitalization is $894.97 million. The company’s 50-day moving average price is $11.88 and its 200 day moving average price is $9.45.
Several research analysts have recently commented on AROC shares. Goldman Sachs Group Inc. raised Archrock to a “buy” rating in a research note on Tuesday, June 21st. Raymond James Financial Inc. raised Archrock to an “outperform” rating in a research note on Wednesday, June 22nd. Simmons started coverage on Archrock in a research note on Monday, August 22nd. They issued a “neutral” rating and a $12.25 price objective on the stock. Johnson Rice raised Archrock from a “hold” rating to an “accumulate” rating in a research note on Friday, August 5th. Finally, Royal Bank Of Canada raised Archrock from an “underperform” rating to a “sector perform” rating and raised their price objective for the stock from $4.00 to $10.00 in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Archrock has a consensus rating of “Hold” and a consensus price target of $11.64.
Archrock Company Profile
Archrock, Inc, formerly Exterran Holdings, Inc, is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
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